Press Esc to close
Monday 20 October 2014
News updated at 9:46 AM IST
Weather
Max: 30.8°C
Min : 20.1°C
In Bangalore
Sunny day

Japan to give fresh infra loan of $2.26 bn to India

Phnom Penh, Nov 20 (PTI)
In this photograph received from the Press Information Bureau (PIB) on November 20, 2012 Indian Prime Minister Manmohan Singh (L) shakes hands with Japanese Prime Minister Yoshihiko Noda at a bilateral meeting on the side lines of the 10th ASEAN-India Summit in Phnom Penh. AFP PHOTO/PIB/M ASOKAN ----EDITORS NOTE---- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT 'AFP PHOTO

Japan will give a fresh loan of about USD 22.6 billion for the second phase of Dedicated Freight Corridor and an infrastructure project in South India, Prime Minister Yoshihiko Noda today told his Indian counterpart Manmohan Singh as they met here, making up for an opportunity lost a few days ago.

Singh, while welcoming the announcement of loan, emphasised to Noda that India's priority was investments by Japanese companies in infrastructure projects like Delhi Metro Rail, which was a "fine example" other cities want to emulate.


The two leaders were to meet in Tokyo on November 16 during Singh’s scheduled three-day visit beginning November 15 for annual Summit. However, the visit was cancelled just a day ahead in view of sudden political developments in Japan with Noda deciding to announce elections.

During the meeting today on the sidelines of East Asia Summit, Noda expressed happiness at being able to meet Singh to underline the close Strategic and Global Partnership between the two countries, sources said.


He told Singh that he wanted to discuss the next steps in the relationship since they could not meet in Tokyo for the Annual Summit due to domestic developments in Japan, they said.

Noda informed Singh that Japan will be announcing the second round of loans under Overseas Development Assistance (ODA) for the second phase of the Dedicated Freight Corridor and a third infrastructural project in South India, where Japanese companies have a good presence, the sources said.

The fresh loan amount is expected to be 184 billion yen, approximately USD 22 billion.

The Japanese Prime Minister also mentioned Japanese interest in continuing the consultation on the high-speed railways.

Both the Prime Ministers expressed happiness on the signing of the MoU on Rare Earths and the Agreement on Social Security signed on November 16 in Tokyo.

Go to Top

Photo Gallery
Autumn light is seen at sunset on the Alexandre III Bridge, with the Eiffel tower in background...

Autumn light is seen at sunset on the Alexandre III Bridge, with the Eiffel tower in background...

BJP candidate Sanjay Kelkar flashes victory sign while celebrating with his supporters...

BJP candidate Sanjay Kelkar flashes victory sign while celebrating with his supporters...

Supporters celebrate Congress candidate Praneeti Shinde's victory in the Assembly polls ...

Supporters celebrate Congress candidate Praneeti Shinde's victory in the Assembly polls ...

Former Indian Cricket players Krishnamachari Srikkanth with Devang Jayant Gandhi and Deepak Shodhan.

Former Indian Cricket players Krishnamachari Srikkanth with Devang Jayant Gandhi and Deepak Shodhan.

Indian Hockey players vie for the ball during final of the Sultan of Johor Cup 2014...

Indian Hockey players vie for the ball during final of the Sultan of Johor Cup 2014...

Dia Mirza poses with her long-time beau Sahil Sangha after she got married...

Dia Mirza poses with her long-time beau Sahil Sangha after she got married...

Players in action during a football match played between North East United FC and Goa FC...

Players in action during a football match played between North East United FC and Goa FC...

Atletico De Kolkata and Delhi Dynamos FC Players in action during their ISL Match...

Atletico De Kolkata and Delhi Dynamos FC Players in action during their ISL Match...

Narendra Modi with BJP President Amit Shah after the party's parliamentary board meeting...

Narendra Modi with BJP President Amit Shah after the party's parliamentary board meeting...

Only media personnel at the AICC office…

Only media personnel at the AICC office…

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523